A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a Capital Budget.
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What is a Capital Budget?</h3>
- The procedure a company uses to assess potential big projects or investments is called capital budgeting.
- Before a project is accepted or denied, capital budgeting is necessary. Examples of such projects include the construction of a new plant or a significant investment in a third-party enterprise.
- It is a means of locating a superior offer for the expansion of the company.
- A company's bottom line is frequently affected by significant capital decisions, which are frequently tied to capital planning.
- In capital budgeting, projects that improve a business are chosen. Almost everything, including the acquisition of land or the purchase of fixed assets like a new truck or machinery, can be included in the capital budgeting process.
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There are 6 requirements for a verbal contract:
An offer. -- they had this
An acceptance. -- the contract was accepted
Competent parties who have the legal capacity to contract. - they both have the right to make this decision
Lawful subject matter. this is not an illegal operation
Mutuality of obligation. Both parties are obligated to do something in this case.
Consideration. if there were discussions of payment, then yes this is a legally enforceable contract.
Answer:
$12,000
Explanation:
The main difference between cash basis accounting and accrual accounting is that accrual accounting recognizes revenue only after the earning process is completed. On the other hand, cash basis accounting recognizes revenue and expenses when the money is received or paid, regardless of when the service is provided. This is why the US GAAP doesn't allow cash basis accounting.
The IRS allows cash basis accounting for individuals and small businesses that only deal with cash payments, but they must meet certain criteria:
- partnerships or C corporations with less than $5 million in yearly revenue
- sole proprietorships and S corporations with less than $1 million in yearly revenues
- family owned farms
- you provide personal services and 95% of your revenue comes from it
- no publicly traded corporation is allowed
Answer:
= (0.043 , 0.257)
Explanation:
p = 9/60 = 0.15
Z score for 98% confidence interval = Z0.01 = 2.33
The Confidence interval = (p + Z0.01 * sqrt(p * (1 - p) / n))
= (0.15 + 2.33 * sqrt(0.15 * (1 - 0.15) / 60))
= (0.15 + 0.107)
= (0.043 , 0.257)